Hi , recently IT department has conducted survey at my friend place. His father is uneducated and had not maintained any accounts. what are the rules to calculate Tax laibility based on revenue when there are no books.
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Tax Laibility in case no books mainatained
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Income will be compute based on income sources. So, explain Your query with more details...
Sir, Income is from real estate business.income is calculated from the registered documents. is there any clause in act that we should offer certain percentage of revenue as Tax if books ( development costs) are not maintained?
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